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MasterCard’s head of emerging payments, Ed McLaughlin, recently sat down with Austin Carr of Fast Company to discuss the future of credit cards. According to McLaughlin “we’re rapidly moving to a world beyond plastic. In many ways, plastic is just convenient packaging.” He believes that the future of on-the-go payments lies in the hands of near-field communication but the adoption rate seems to be extremely slow and availability seems very limited. Although NFC technology has been featured in a number of Android devices, MasterCard feels that it won’t go mainstream until an iPhone is equipped with the mobile payment solution.

Apple has repeatedly shown that it is one of the few consumer electronics companies right now that has the ability to transform and create entire industries. Before iTunes and the iPod, a very small number of people paid for digital music and media tablets were also a non-factor until the iPad. It seems like the mobile payment industry might need Apple to become a mainstream phenomenon as well.

One of the interesting things that McLaughlin mentioned was that he “doesn’t know of any handset manufacturer that isn’t in process of making sure their stuff is PayPass ready.” When asked specifically if Apple was one of these manufacturers, McLaughlin stuttered; “Um, there are … like I say, [I don’t know of’ any handset maker out there. Now, when we have discussions with our partners and they ask us not to disclose them, we don’t.” This leads everyone to believe that Apple is working on incorporating the NFC technology and hasn’t announced or revealed anything as of yet. It is quite possible that we will be seeing the technology available in the next-generation iPhone (rumored to be the iPhone 5).

This is such a bad idea!!!! Before if someone had this technology, all a hacker had to do was scan the area with their laptop and get all the information they needed to steel someones credit card. Now since this technology will be embedded in the next generation, that means everyone will have the technology and could easily write an app to scan the area and crack the codes. People are going to get hacked and the blame will be set on Apple.

^ Agree all those features would be nice, but when has Apple really ever given us what we wanted right out of the box. Since the 1st generation iPhone we all wanted text tones, and random little things that we always had before the iPhone. We didn't see that feature for years, and generations later. We have to wait for something big to hit Cydia then Apple will jump on it or just steel the source code.

This is such a bad idea!!!! Before if someone had this technology, all a hacker had to do was scan the area with their laptop and get all the information they needed to steel someones credit card. Now since this technology will be embedded in the next generation, that means everyone will have the technology and could easily write an app to scan the area and crack the codes. People are going to get hacked and the blame will be set on Apple.

Don't panic. That's actually not how it works when it's embedded in a cell phone because it's not the same as a credit card. The chip will only be active when you select the credit card on the phone. Other than that, it won't be active so there is no information to "hack". Credit cards don't have that option since they are always active.

Originally Posted by rockxz3

Why doesn't apple just put to batteries in the iphone? If they keep adding things that drain the battery. But then again idk much about NFC yet.

NFC will not make a significant battery drain since it barely takes any power and it is not used 99.9% of the day.

I'd love NFC - I think why so many of you that 'have it and dont use it' have that mindset is because its not mainstream. If I could walk out my house with only my phone and could leave my wallet at home - it would make my life easier.

This is such a bad idea!!!! Before if someone had this technology, all a hacker had to do was scan the area with their laptop and get all the information they needed to steel someones credit card. Now since this technology will be embedded in the next generation, that means everyone will have the technology and could easily write an app to scan the area and crack the codes. People are going to get hacked and the blame will be set on Apple.

Rather than explain it in length here, I suggest you go read up on NFC technology. It doesn't work the way you think it does, based on your post.

I'm an Android user (converted) and I hope they incorporate this into their next phone. It will push retailers to migrate/adapt to NFC type payments. Android phones have this but you don't see a lot of places that utilize it.

I hate and love Apple at the same time. Hate them because their phones and features are already out but when they release it it's like God's greatest gift to man but I love them because so many companies bend over backwards for them.

This is such a bad idea!!!! Before if someone had this technology, all a hacker had to do was scan the area with their laptop and get all the information they needed to steel someones credit card. Now since this technology will be embedded in the next generation, that means everyone will have the technology and could easily write an app to scan the area and crack the codes. People are going to get hacked and the blame will be set on Apple.

I'm definitely sure not everyone will be force to use this feature but they will have it just in case they want to. You will have a choice to store your CC info for NFC and hacking it will not be an easy task like you put it.